Aldermore Bank SWIFT/BIC code

SWIFT/BIC code of Aldermore Bank

ALDBGB21 and ALDBGB21XXX are two ways of writing the same SWIFT/BIC code, and both point to Aldermore Bank in Peterborough. Banks worldwide use BIC codes to route payments between countries to the right institution. It comes up mainly for payments that cross a border or a currency.

Below we go through the practical questions: money coming in from abroad, paying someone in another country and how to check the code before you confirm a payment. The BIC identifies an institution, never a specific account; the IBAN or account number does that.

Euro transfers to Aldermore Bank: is a BIC needed?

Since United Kingdom is part of SEPA, a euro transfer into Aldermore Bank from another SEPA country normally requires just the IBAN. Many banks no longer ask for the BIC for these payments.

A SWIFT code like ALDBGB21 does matter for payments in other currencies, and for transfers from outside SEPA. If your banking app asks for the BIC anyway, adding ALDBGB21 is fine.

Instant euro transfers have become increasingly supported across SEPA – whether Aldermore Bank offers them for your account is worth checking. Fees for SEPA transfers tend to be low.

How to check ALDBGB21 before you pay

The most reliable source for the BIC is the bank details provided by the recipient. Compare it with ALDBGB21 on this page; if they differ, ask before you pay.

Mistakes in the BIC tend to be costly more than disastrous – usually the money comes back, minus fees and time lost. A mistake in the IBAN or account number can be a bigger problem, because the money may be credited to someone else.

A validity check by your bank only confirms that the IBAN exists, not that it is the right account. If your bank offers it, a name check on the recipient gives an extra layer of safety. Sending a small amount first can be a sensible step for large sums.

British Pound (GBP) and conversion costs

Most accounts at Aldermore Bank are typically held in GBP, the national currency. When you pay money in a different currency has to be converted at some point. Every conversion costs something.

Which bank converts the money makes a difference: every bank has its own margin. Check how much GBP arrives via different services before choosing one.

The GBP rate fluctuates constantly. On larger amounts, a small gap in the rate can be worth more than the fee.

About this information

We gather bank codes from publicly available data and check them regularly. Even so, banks merge or retire codes. Counts and locations come from our own dataset and are not confirmed by Aldermore Bank.

Use our data as a starting point, rather than as the final word: the recipient’s bank details come first. GoldexPay is a comparison site and not part of Aldermore Bank. Found an error? Tell us through the contact page and we will look into it.

Aldermore Bank: head office code versus branch codes

Having 2 codes, Aldermore Bank is one of the banks that use separate codes for parts of the organisation. The main code is ALDBGB21XXX.

Unless the recipient tells you otherwise, use ALDBGB21XXX. Branch codes are only needed when the recipient’s bank specifically mentions it, which is more common for business accounts and trade services.

Unsure which code to use? Ask the recipient, or look at a recent statement from Aldermore Bank. Codes are sometimes changed or retired over time, so a code from an old document is not always valid.

Receiving money from abroad at Aldermore Bank

To receive a transfer from abroad at Aldermore Bank, the sender has to have more than the BIC. Give them the account holder’s name, your account number or IBAN, SWIFT code ALDBGB21XXX and your address, which some banks require.

Their bank might request the bank address of Aldermore Bank. Check the details before you share them, because the sender’s bank usually copies them as is.

The amount you receive is often less than the amount sent. Intermediary banks may deduct a fee, Aldermore Bank may charge for incoming payments, and when currencies differ, an exchange rate margin comes on top. Make clear with the sender who pays which costs.

How long does an international transfer to Aldermore Bank take?

There is no single delivery time for every transfer: many land the same day or the next, others take several business days. Payments made after the cut-off time or just before weekends and holidays often go out a business day later. Sometimes a bank wants to know what the payment is for before releasing it.

A growing number of banks use SWIFT gpi for faster and traceable payments. Each gpi transfer gets a unique reference, the UETR, which your bank can use to see where the money is. Keep the payment confirmation; it contains the details a bank needs to start a trace.

If a payment has not arrived within the expected time, the person who paid should start with their own bank. Request from the sender a copy of the payment confirmation including the reference.

Watch out for payment fraud

A common scam works like this: an email arrives with a message saying that a company has a new bank account. A valid SWIFT code tells you nothing about who owns the account: scammers use real codes of real banks.

Always verify a change of bank details by phone, using a number you already had. Watch out for urgent requests, odd spelling or a sender address that is slightly off. If money was sent to a fraudster, call your bank right away: the sooner they act, the better the chance of a recall.

People receiving money can be targeted as well: a classic trick is a buyer who pays too much and then sends a request to refund the difference. A payment confirmation from the sender proves nothing; only your own account shows what has arrived.

ALDBGB21 or ALDBGB21XXX – which one to use?

Each SWIFT/BIC code has the same eight core characters: a four-letter bank code, a two-letter country code and a two-character location code. For Aldermore Bank, that core is ALDBGB21.

Many banks and apps accept both lengths. If yours asks for eleven characters, use ALDBGB21XXX; if it wants eight, use ALDBGB21.

In practice the code is written in capitals and without spaces. A wrong letter may route a payment to a different institution.

What a transfer from Aldermore Bank abroad really costs

An international bank payment can cost more than the fee suggests. On top of a fixed fee, banks in between may take a cut, and when the money changes currency, the bank usually uses a rate that is less favourable than the real market rate.

That exchange rate margin is often the largest cost even though it is not listed as a fee. An easy check: set the rate you get next to the mid-market rate and look at the difference.

Specialised transfer providers frequently use rates closer to the mid-market rate and lower fees. Next time you send money, take a minute comparing what arrives via GoldexPay. You can still use your account at Aldermore Bank as the source of the money; only the conversion and sending happen elsewhere.